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Consolidation Below Resistance Latest Ripple (XRP) News & Price Analysis

coinnewsdaily by coinnewsdaily
Oktober 28, 2019
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XRP/USD price pattern is narrowing further Latest Ripple (XRP) News & Price Analysis
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  • XRP is looking to restest $0.30
  • Falling Wedge Formation
  • Growing bullish pressure

1 Hour XRP/USD price chart

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XRP price against the U.S. dollar continues its consolidation in the 29 cents price range. After a fake breakout above $0.30 the price may well dip below $0.29600 and $0.29350 in the short term or go lower and test $0.29150 and $0.28500 support levels. MACD on one hour chart recently printed bearish crossover, which can act as a bearish signal in the short term.

However, in the longer term, XRP price looks more likely to retrace back into consolidation as soon as it finds liquidity below support.

Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.

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